At this moment this is what I am using to position myself in the crypto markets.
Due to the high correlations between the cryptos everything is in a holding pattern, waiting for BTC to break up/down. There are many alt coin pairs that are itching to be longed waiting for BTC to break the range, my favorites are: ADA/BTC - BCH/BTC - TRX/BTC - LTC/BTC - EOS/BTC.
My gut wants to long it all, but my trading system/strategy has a better ROI than my gut, lol.
I will probably start building long positions in the aforementioned alts do break their local highs while BTC is sideways. The only positions I have right now happens to be the only alt coin that broke it's local range highs, ETH/BTC and ETH/USD. This pair is showing major strength and has plenty of fundamentals to go with it (Constantinople hard fork in few weeks). (As I type this TRX/BTC is trying to local high, will see how it closes)
Hopefully BTC can sack up and break out of zone, then there will be plenty of opportunities for exponential gains in the al/BTC pairs. If it breaks down I will short certain alt pairings along w BTC/USD.
Now if ETH breaks/closes $175, IMO, these alts could run regardless of BTC, so that is something to watch for.
At this moment, the best R:R is is to buy longs at green support one if you are overly bullish, and shorts in red if overly bearish.
When we break these zones up/down, this outlook will have played out and we (the good traders) will evaluate the new evidence for future decision making.
I will be updating this idea as we go, so follow, and like, por favor. Gracias.
Good day Gents,
Sir Lambo Moon
(Sent from Lambo)
Due to the high correlations between the cryptos everything is in a holding pattern, waiting for BTC to break up/down. There are many alt coin pairs that are itching to be longed waiting for BTC to break the range, my favorites are: ADA/BTC - BCH/BTC - TRX/BTC - LTC/BTC - EOS/BTC.
My gut wants to long it all, but my trading system/strategy has a better ROI than my gut, lol.
I will probably start building long positions in the aforementioned alts do break their local highs while BTC is sideways. The only positions I have right now happens to be the only alt coin that broke it's local range highs, ETH/BTC and ETH/USD. This pair is showing major strength and has plenty of fundamentals to go with it (Constantinople hard fork in few weeks). (As I type this TRX/BTC is trying to local high, will see how it closes)
Hopefully BTC can sack up and break out of zone, then there will be plenty of opportunities for exponential gains in the al/BTC pairs. If it breaks down I will short certain alt pairings along w BTC/USD.
Now if ETH breaks/closes $175, IMO, these alts could run regardless of BTC, so that is something to watch for.
At this moment, the best R:R is is to buy longs at green support one if you are overly bullish, and shorts in red if overly bearish.
When we break these zones up/down, this outlook will have played out and we (the good traders) will evaluate the new evidence for future decision making.
I will be updating this idea as we go, so follow, and like, por favor. Gracias.
Good day Gents,
Sir Lambo Moon
(Sent from Lambo)
Trade active:
Both $LTC/BTC and $TRX/BTC broke local highs. Took positions in both.
Trade active:
Both ADA/BTC and NEO/BTC broke local highs. Positions in both.
Follow me on twitter where I spit hot fire... @SirLamboMoon
